Commercial Loans for Scenic and Sightseeing Transportation, Land

With these commercial loans for scenic and sightseeing transportation, land, the SBA guarantees the lender that the loan will be repaid. This scenic and sightseeing transportation, land loan for $150,000 was given to an Iowa entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community State Bank, based in Des Moines, Iowa.

SBA Loan Borrower

COMPANY TYPE: SCENIC AND SIGHTSEEING TRANSPORTATION, LAND
DES MOINES, IA 50315

SBA Loan Lender

COMMUNITY STATE BANK
612 ARMY POST RD
DES MOINES, IA 50315

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

487110 - Scenic and Sightseeing Transportation, Land

Loan Approval Date

9/4/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Accountant's Role in Securing Financing

Small Business Banks in Des Moines, Iowa

SBA Iowa Banks